First Mid Bancshares (NASDAQ:FMBH) Announces Quarterly Earnings Results

First Mid Bancshares (NASDAQ:FMBH) issued its earnings results on Thursday. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21, FiscalAI reports. The firm had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a net margin of 19.95% and a return on equity of 10.44%.

First Mid Bancshares Stock Up 0.8%

FMBH stock traded up $0.38 during midday trading on Thursday, hitting $48.88. The company’s stock had a trading volume of 35,919 shares, compared to its average volume of 124,596. The company’s fifty day moving average price is $46.18 and its 200 day moving average price is $43.44. First Mid Bancshares has a twelve month low of $34.15 and a twelve month high of $50.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.30 billion, a P/E ratio of 12.31 and a beta of 0.79.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. First Mid Bancshares’s dividend payout ratio (DPR) is 25.19%.

Analyst Ratings Changes

FMBH has been the subject of several research analyst reports. DA Davidson boosted their price target on shares of First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their price target on First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.50.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of FMBH. Jane Street Group LLC lifted its stake in First Mid Bancshares by 0.8% in the 4th quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 326 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the period. PNC Financial Services Group Inc. increased its position in First Mid Bancshares by 17.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after buying an additional 538 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in First Mid Bancshares by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after buying an additional 550 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in First Mid Bancshares by 6.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,101 shares of the bank’s stock valued at $511,000 after buying an additional 823 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.